Saudi Pro League announces long-term partnership with Maaden
Riyadh, Saudi Arabia - The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic...Technology Business
Saudi Arabia unveils ‘Colour Your Summer’ program, targeting 41 million visitors
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of...Arts & Culture Business
Why investors rush to gold in uncertain economic times?
London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...On Friday it struck an all-time high of $3227.51 an ounce in trading, handing the commodity a gain of more than 20 percent since the start of the year.
In 2024, global central banks together added more than 1,000 tons of gold to their reserves for the third year running, according to the World Gold Council.
Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.Saudi Arabia is a key regional ally of Washington, and US President Donald Trump forged close ties during his first term with Crown Prince Mohammed bin Salman.
However, demand for EVs is relatively low in Saudi Arabia, the world's largest oil exporter which enjoys bargain-basement fuel prices, with a liter costing just $0.62.
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...Sheikh Zayed said that the CEPA would create new avenues for cooperation between the UAE and EU, increase trade and investment flows.
The EU is the UAE’s second-largest trading partner, accounting for 8.3 percent of the UAE’s total non-oil trade, which hit $67.6 billion in 2024.
Mubadala Energy enters US energy market
Acquires a 24.1% interest in US firm Kimmeridge’s SoTexThrough SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water.
The deal bolsters Mubadala Energy's growth plans to invest across the gas value chain in key energy hubs around the world.
OpenAI files counterclaims against Musk as feud deepens
San Francisco, United States -- Artificial intelligence giant OpenAI has filed counterclaims against multi-billionaire Elon Musk, accusing its former co-founder...OpenAI alleges Musk became hostile toward the company after abandoning it years before its breakthrough achievements with ChatGPT.
"Musk could not tolerate seeing such success for an enterprise he had abandoned and declared doomed," OpenAI said in a filing.
47 global firms interested in developing 7th phase of Al Maktoum solar park
Dubai, UAE -- A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin...The seventh phase will have a production capacity exceeding 1,600 megawatts (MW) and 1,000MW battery storage system providing 6,000 megawatt-hours.
Scheduled for phased commissioning between 2027 and 2029, the seventh phase will be generating 4.5 terawatt-hours of clean energy by 2030.
After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...The accounts were brought in for 13- to 15-year-old Instagram users last September as part of moves to shield underage internet users from online harms.
Teens are immediately placed in such accounts, with those under 16 unable to change settings without parental permission.
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...The 10-carat Mediterranean Blue, which will go on sale in Geneva next month, is the showpiece of a collection estimated at $100 million, organizers said.
"Included in the group are the largest flawless diamond in the world... the second largest red diamond known to exist and several diamonds over 100 carats," Sotheby's said.
UAE’s steady economic rise fertile ground for growth of facilities management
A steady stream of development projects and year-round tourism in the country propel demand for tech-enabled facilities management, says Adnan...In a market like the UAE, or the GCC in general, where things evolve daily, adaptation is essential, said Jabri.
Our industry is increasingly focused on sustainability, and technology plays a pivotal role in enabling environmentally friendly practices, he added.
Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House.
Trillions of dollars have been wiped off combined stock market valuations in recent sessions. Bitcoin tumbled, while the dollar rebounded after sharp losses last week.
